PARK RIDGE, N.J., Nov. 25, 2013 /PRNewswire/ -- Hertz Global Holdings, Inc. ( NYSE: HTZ) (the "Company") announced today that Hertz Fleet Lease Funding LP ("HFLF"), a wholly owned special purpose subsidiary of Donlen Corporation ("Donlen"), a wholly-owned subsidiary of the Company, successfully issued $500 million in aggregate principal amount of Series 2013-3 Floating Rate Asset Backed Notes, Class A, Class B, Class C and Class D (the "HFLF Series 2013-3 Notes"). Donlen utilizes the HFLF securitization platform to finance its U.S. fleet leasing operations. The HFLF Series 2013-3 Notes are floating rate and carry an interest rate based upon a spread to one-month LIBOR. The $461.1 million of Class A notes carry a spread of 0.55%, the $13.4 million of Class B notes carry a spread of 1.05%, the $12.9 million of Class C notes carry a spread of 1.45%, and the $12.6 million of Class D notes carry a spread of 2.00%. The HFLF Series 2013-3 Notes contain provisions that allow them to revolve until December 2014. During the revolving period, the monthly lease collections allocable to the HFLF Series 2013-3 Notes are permitted to be used, subject to customary conditions, to fund the acquisition of vehicles and/or equipment to be leased to customers. Upon expiration of the revolving period, the repayment of principal of the HFLF Series 2013-3 Notes will commence, with monthly payments made from the HFLF Series 2013-3 Notes' allocable share of lease payments and proceeds from the sale of vehicles and equipment leased thereunder until the HFLF Series 2013-3 Notes are paid in full. The assumed weighted average life to maturity of the Class A notes, the Class B notes, the Class C notes, and the Class D notes are expected to be 1.93 years, 2.82 years, 2.88 years, and 2.92 years, respectively. The Class B Notes are subordinated to the Class A Notes. The Class C Notes are subordinated to the Class A Notes and the Class B Notes. The Class D Notes are subordinated to the Class A Notes, the Class B Notes, and the Class C Notes. The notes were offered and sold only to qualified institutional buyers, who are also qualified purchasers, in an offering exempt from registration pursuant to Rule 144A of the Securities Act of 1933, as amended (the "Securities Act").